Ethan Allen Interiors Inc (NYSE:ETH)
Q2 2021 Earnings Call
Jan 28, 2021, 5:00 p.m. ET
- Prepared Remarks
- Questions and Answers
- Call Participants
Greetings, and welcome to the Ethan Allen Fiscal 2021 Second Quarter Analyst Conference Call. [Operator Instructions]
I will now turn the conference over to our host, Matt McNulty, Vice President of Finance. Thank you. You may begin.
Matt McNulty — Vice President, Finance
Thank you, Diego. Good afternoon, and welcome to Ethan Allen’s conference call for its fiscal second quarter ended December 31, 2020. This conference call is being recorded and webcast live on ethanallen.com where you’ll find a copy of our press release, which contains reconciliations of non-GAAP financial information referred to in the release and on this call. A replay of today’s call will also be made available via phone and on our website. After our prepared remarks, we will open the call to questions.
As a reminder our comments today will include forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to our SEC filings for a continued review of those risks. The Company assumes no obligation to update or revise any forward-looking matters discussed during this call. Joining me today on the call is our Chairman and CEO, Farooq Kathwari, and our Chief Financial Officer, Corey Whitely.
I am pleased to now turn the call over to Farooq Kathwari.
Farooq Kathwari — Chairman and Chief Executive Officer
Thank you, Matt, and thank you all for participating in our quarterly call. As we all know, the last 12 months have been traumatic, challenging and also rewarding in many important changes to strengthen our enterprise and also achieving strong results. This has been an amazing journey. Nine months back I had to furlough about 4,000 associates, close all our manufacturing and most of retail. Our stock price, like most enterprises bottomed to close about $8.
As you know the good news is written sales have continued to grow, quarter ending December 31, 2000 [Phonetic] increased 45% from previous year — previous-year quarter. Our adjusted earnings per share of $0.69 increased 155.6%. Our backlog for retail division increased 146% and after Corey provides a brief overview, I will review our initiatives. Corey?
Corey Whitely — Executive Vice President, Administration and Chief Financial Officer
Thank you, Farooq. During the second quarter of fiscal 2021, our teams remained focused on serving our clients and keeping our workplaces safe. Our retail segment written orders continue to accelerate, achieving 44.9% growth compared to the prior year. Our e-commerce orders reflected 194% growth for the quarter. We are pleased that our January retail written orders are continuing the upward trend.
Consolidated net sales for the quarter were $178.8 million, a 2.4% increase to the prior-year quarter. Wholesale net sales increased 10.5% as production levels throughout our manufacturing steadily improved and our peak production weeks during the quarter matched the pre-COVID-19 production levels. Wholesale segment written orders increased 28.1%. Excluding GSA and other government orders, wholesale segment orders grew 39.7%. We continue to see COVID-19 pandemic-related disruptions that are delaying issuance of new GSA and other government orders.
Our retail net sales increased 4.1% for the quarter. At the end of the quarter, both retail and wholesale had high order backlogs that we expect to get caught up over the March and June quarters. Our adjusted gross margin increased 80 basis points to 56.9%. The increase in…